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talk couldn't get the votes. they pulled it shortly before midnight. jon karl is watching it all from capitol hill. the speaker says he'll try again today. >> reporter: he will, but, gege, this debt ceiling crisis has become a political crisis for republicans. boehner will convene all 240 house republicans this morning to make one final push for it. but the reason he pulled the bill last night is he just couldn't get enough republicans to pass his own bill. republican leaders worked late into the night trying to get the votes to pass their own debt ceiling bill. reporters swarmed around utah republican jason chafitz. he told us he's still not sure. >> i'm surprised they are not twisting and ripping arms off. >> reporter: the speaker said he can't do his job if you respect there to support him. >> i am fully supportive of the speaker. i just can't support his bill but i do support the speaker. >> reporter: but for speaker of the house john boehner, the political stakes could not be higher. >> his leadership of the republicans in the house and being speaker is clearly at stake here if h
karl is in washington and has more on all this. good morning, jon. >> reporter: good morning, robin. there is no presidential candidate with more momentum right now than michele bachmann. ♪ my home in -- >> reporter: no republican presidential candidate has taken a harder line on the debt ceiling showdown than michele bachmann. >> we were all shocked and appalled that president obama dangled out in front of the cameras that senior citizens may not get their checks. that's a very dangerous statement to make. we don't believe -- excuse me. excuse me. we don't believe that for a moment. >> reporter: tough talk from bachmann is nothing new but she now speaks with new-found authority as a top tier contender for the republican presidential nomination. a new national poll puts bachmann firmly in second place as the leading challenger to front-runner mitt romney. and in key first caucus state iowa, three separate polls over the past week put bachmann in first place. >> republican primary voters are looking for somebody who has -- brings some excitement, who brings something different to t
that to happen. >> with that let me bring in our team. jake tapper, jon karl on capitol hill. jon, given the deadlock, the senate republican leader mitch mcconnell says he doesn't think a deal can be reached so calm up with a last-ditch fallback. >> reporter: last choice option, only if the talks completely collapse. it's complicated but the bottom line is, it would give the president the authority on his own to gradually raise that debt ceiling by $2.5 trillion between now and the election. the political burden is all the president's. he can do it without spending cuts and even in the face of opposition from the majority in congress. i talked to a lot of republicans in the house, rank and file, who say it's not acceptable. they want real spending cut, a lot of them and nothing else. >> there's no guarantee of spending cuts even though it would avoid tax increases. any openness in the white house to that and where do they think the talks are right now? are they as pessimistic as mr. mcconnell? >> reporter: well, mcconnell's deal sent two signals to the white house, one, good news to them
's bring in jake tapper and jon karl from capitol hill. jon, they tried to work on a smaller reduction deal but that didn't go much better. >> reporter: the divide is as deep as ever. they outlined 1.7trillion cuts, not enough but democrats called it completely unacceptable because it included cuts to medicare and no tax revenue increases. steny hoyer said he couldn't get a senior democratic vote for a plan. >> that means that it couldn't pass. courthouse have any idnew ideas >> reporter: they're pushing for the big deal, a lot of pain at one, entitle tks. president obama outlined the plan and said, you can't expect seniors to give up $500 when you went own ask for $5 from people like me. wealthy individuals. >> jon, the leader mitchell mcconnell is looking at a contingency plan which could be a short-term extension. >> reporter: he's tight-lipped about what they mean. they could give him a chance to accept that which he ruled out or one with no tax increases. >> the president very clear on that. >> reporter: he said he's not signing any short-term plans. the debt ceiling needs to be raised
and jon huntsman met face to face. what did they say? >> it was a nice exchange, a nice greeting. wishing each other luck and being friends. that's the way that all the candidates on the republican side should be. >> reporter: halfway across the country in clear lake, iowa, two other candidates enjoyed the same parade though hardly the same crowds. >> hi there. happy fourth of july. >> reporter: the surging michele bachmann was surrounded by a sparkly throng of supporters and a new campaign bus. the fourth is a glorious day for all americans including candidates. for them, it may be a chance to take a break from their recent big obsession, cash. mitt romney expects to come in somewhere south of 20 million. tim pawlenty, jon huntman and ron paul all way south of that. around 4 million apiece. meanwhile, president obama could raise as much as 60 million, though he spent the day with men and women whose value is beyond priceless. >> i cannot think of anybody i would rather celebrate with than all of you, the men and women of our military and our extraordinary military families. >> reporter:
)s, other big costs. jake tapper and jon karl have been tracking it. >> reporter: last night after their prime time addresses to house speaker john boehner was overheard saying he didn't sign up to go mano a mano with the president after the president called for congress to compromise. the president spoke sternly to the american people last night blaming house republicans, especially freshmen, for holding up a debt deal. >> the only reason this balanced approach isn't on its way to becoming law right now is because a significant number of republicans in congress are insisting on a different approach. >> reporter: house speaker john boehner responded that the president wants to continue his rampant spending. >> the president often said we need a balanced approach, which in washington means, we spend more and you pay more. >> reporter: right now there are two competing bills, to raise the debt ceiling and reduce the deficit. a house one that likely cannot pass the senate and a senate one that cannot likely pass the house. both cut more than $1 trillion in spending and do not raise ta
on the outcome. abc's jon karl joins us with the latest. what about it? how close are we finally to a deal? >> reporter: getting close to a deal. the outlines of this deal include up to $3 trillion in spending cuts over the next ten years including some cuts to popular entitlement programs like medicare and social security, also, elizabeth, it would include a promise or a commitment that congress would bring more money in through tax revenues by reforming the code, closing some of those loopholes, something that congress would act on. >> that last one, isn't that basically a tax increase in disguise? >> well, certainly some will call it that. the rates won't go up. congress would have to act over the next year. if they didn't ago, automatic steps would be taken that both sides wouldn't like which would be tax hikes and spending cuts possibly talking about repealing part of the health care bill. >> even if president obama and speaker boehner reach a deal they have their own rank and file to make happy. i was struck by a comment by barbara mikulski. we heard reports of a trillion dollar cut
race than he was a few weeks ago. jon, we were talking earlier on the surface it seems like a few points shift but given the backdrop of this economy and unemployment it's pretty dramatic. >> and the factor seems to be the debt ceiling standoff. take a look at the numbers against mitt romney, the president last opened up a lead, a pretty significant lead you see there of 51% to 44%. the lead is even more dramatic against other other candidate. look where he was a month ago, mitt romney was tied with president obama. the big factor here, in fact, the only factor that has really changed is that independent voters have moved away from the republicans and towards the president. >> so independent voters watching the debt showdown and weighing in. >> reporter:s that sea exactly right and don't like the way the republicans have been handling it. >> speaking of the republicans you take a look at how they're stacking up with the race. a familiar name starting to inch up. >> romney is still the front-runner if you look at the republican field. but look who is number two, not even a candidat
. abc's jon karl joins us from washington. all talks secret up until now. what more do we know about what president obama and the speaker of the house have been discussing. >> reporter: a big deal here, george. as you mentioned, this would mean that the president would go along with reductions in spending to social security and medicare, most likely cost of living increases going down and in exchange republicans would accept some increase in tax revenues as part of an overhaul of the tax code. as one top administration told me, we need to do something unthinkable on entitlements. they need to do something unthinkable on tacks. >> unthinkable may be the word. these talks have been going on between the president and speaker boehner but there hasn't been a lot of discussion among a wider conferences in the house and the senate democrats and republicans and i guess the big question coming out of today's meeting, when other leaders find out about it, is it something they can work with and is it something that will fly? >> reporter: a great question. boehner and the president may be able t
Search Results 0 to 8 of about 9

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